The present state of L2s, Edition #6

Polygon token proposal to POL, Starknet Quantum Leap 0.12.0 is live on mainnet, Linea Alpha Mainnet and many more

Good morning Saints,

I hope you are having an amazing weekend.

If you’re reading this, always remember to be grateful for each day cause life is the greatest gift you can possess

It has indeed been a wild week in crypto, and I know you’re delighted about the outcome of the three-year court battle between Ripple Labs and the SEC.

The XRP win was a win for the industry.

Interestingly, despite the global macroeconomic situation, the crypto market experienced an upside surge. Might this equally be a catalyst for the next bull market?

Well, we’ll see how it all plays out

Here’s what we’ve got today:

• Arbitrum Ambassador Program is live

• Polygon Labs proposed an upgraded token POL

• Manta network-a new modular OP stack

• Starknet Quantum Leap 0.12.0 is live on mainnet

• Linea teases Mainnet Alpha

• Scroll Mainnet teaser

• Taiko Loyalty Quests

• Metis incubates EcoNode

• Fuel’s Sway Language

• Loopring L3 live on Taiko

• The DeFI Saint Recap, Alpha and many more.

The present state of L2s

~Arbitrum Ambassador Program is live~

But before that, Arbitrum One hits an ATH of 9M+ unique addresses.

Also, It’s reward season, Frens. Here’s a chance for all content creators and educators who are willing to support the growth of the Arbitrum Ecosystem.

The Ambassador program will be of two phases:

• Phase 1: for university-based clubs and students (already live)

• Phase 2: for individuals (community +technical) Q3 2023

You can read more below

~Polygon Labs proposed upgraded token POL~

Polygon 2.0 unveiled a technical proposal to introduce an upgrade of MATIC (the POL token)  where holders can become validators and receive rewards, but with two major improvements:

• Validators can validate multiple chains

• The chain can offer Multiple roles (and corresponding rewards) to validators.

POL is the 3rd generation of native assets - a hyperproductive token.

For more details, you can read below

https://polygon.technology/papers/pol-whitepaper.com 

~Manta network-a new modular OP stack~

Manta Pacific is not just another L2; it aims to be a secure environment where any solidity developer can build and deploy ZK-enabled DApps with native solidity.

ZK-enabled Dapps mark the next generation of web3 use cases and adoption, as they provide stronger user safety and privacy measures while maintaining decentralization.

In their recent AMA, Modularity meets ZK; Manta Pacific highlighted the importance of using the Optimism foundation stack for scaling and its role in combining ZK with modularity.

Below you can follow up with Manta Pacific as they intend to reveal more in their upcoming summit.

~Starknet Quantum Leap 0.12.0 is live on mainnet~

Starknet announced their Quantum Leap part 1: v 0.12.0, which was successfully deployed on the Mainnet, and according to them, this upgrade will be a significant milestone in improving Ethereum’s capacity.

Their team at StarkWare also introduced the Blockifier, a Rust-based block execution logic that plays a vital role in enhancing their network throughput tenfold.

The peak TPS on Stark after mainnet was 54 transactions per sec which is insanely fast 😳

The upgrade also successfully reduced wait times and alleviated network congestion, ensuring that the overall system performance and responsiveness were optimized.

In the long run, I believe they will develop features that will address present challenges such as storage, which currently accounts for over 90% of Starknet transaction costs.

In the meantime, the sleeping giant has awakened!

~Linea teases Mainnet Alpha~

I’m really stoked for LineaBuild as they started to roll out their mainnet alpha release last week.

This week will be busy for Linea as they onboard launch partners before opening the network up to users.

Linea Build is a product of a 5-year-long resilient, consistent, and successful protocol, having undergone a series of tests during their testnet phase with over 5.5M unique addresses committing over 47M transactions.

It’s safe to say that Linea was one of the largest and fastest-growing projects on the Goerli. The numbers are pretty impressive.

As this is the age of building a new era of Ethereum scalability, Linea will be a foundational pillar for every participant and creator in a global network.

Learn more about how Linea intends on fulfilling this

~Scroll Mainnet teaser~

This was an amazing week for Scroll and the entire team.

Their proposal to deploy the Aave V3 on Scroll’s mainnet passed the initial temperature check, which is an important step in the community governance process that brings us one step closer to onboarding Aave onto the Scroll ecosystem.

And what’s left before mainnet is the governance process for the Aave community to conduct both a risk and technical assessment to ensure a safe integration.

P.S.: they just crossed the 500k Twitter milestone.

Keep up with the events of their mainnet here

~Taiko Loyalty Quests~

In collaboration with Galxe, Taiko announced their loyalty quests for the entire community to enable users to learn about Taiko, complete tasks, and earn loyalty points.

Their aim was to educate users in an interactive way. Most importantly, they will learn how to use Taiko’s ecosystem Dapps, their knowledge about ZK-rollups will be tested, and they will get to show their support for Taiko.

Below are the details about the Quest and how you can be a part of it

~Mantle releases NFT collections~

If you’re an NFT trader and a lover of Mantle, I’m sure you will be interested in these NFT collections.

The Citizens of Mantle collection is Mantle’s first ever NFT avatar collection which serves as a gateway to an immersive experience in the mantle ecosystem!

Each unique NFT avatar minted will become a faithful companion for Mantle users to embark on a journey of building, connecting, playing, earning, and trading on the network.

For more details on the NFT, you can find that below

~Metis incubates EcoNode~

I personally find this concept interesting and worth building.

As Métis Dao draws closer to their fulfilment in making Ethereum the global settlement layer, they welcome, with open arms, ZKM.

ZKM is an open-source infrastructure project, which means users can run their own code based on the MIPS instruction set.

They’re building always-on ZKP capabilities for L2 networks, Alt-L1 networks, and a wide variety of Web3 applications.

Read their whitepaper here http://ZKM.io/Whitepaper.com

Everything you need to know about Fuel’s Sway language

Fuel’s adoption is going to be a game-changer because Rollups are the innovation area for Ethereum.

With their release of Sway v0.42.1, there will be an increased potential for it to be the ultimate DSL(Domain Specific Language) for all blockchains.

In case you didn’t know, Sway is the primary programming language for developing & deploying smart contracts on Fuel.  

Part of what makes Sway so unique is the fantastic suite of tools surrounding it that help you turn a contract into a full-stack Dapp

Learn more about the functions and features of Sway below

~Loopring L3 live on Taiko~

Last week, Loopring L3 officially went live on Taiko alpha-3 zkEVM testnet, which marks the beginning of their L3 journey towards achieving greater scalability and highly optimized experiences for their smart wallet & DApps.

Loopring is committed to enabling the widespread adoption of ZK technology through its easy-to-use mobile smart contract wallet.

So why did they deploy L3 on top of Taiko L2? 

The first reason is that by integrating an app-specific layer for DeFi + NFT apps, users can enjoy a greatly enhanced user experience due to lower costs that couldn't be otherwise realized using the EVM 

Secondly, recursive proofs can further provide reduced transaction costs

The Dapp is not yet live but will be on L3 soon.

You can read more below

Project updates and announcements

Aztec teases 3 new network upgrade proposals

Aztec has finally gotten three proposals concerning their software upgrade after soliciting help from the community on the best way to coordinate upgrades and achieve consensus on implementing network changes.

They highlighted in this blog post [ https://discourse.aztec.network/t/request-for-proposals-upgrade-mechanisms/605 ] the requirements and design considerations that proposals for an upgrade mechanism must meet.

As they value community engagement and believe that together a decentralized network that empowers everyone can be built.

Explore the details and how you can get involved:

 ~GHO deployed on Ethereum Mainnet~

Historic moment for GHO as the Aave DAO has successfully launched GHO  on the Ethereum Mainnet. 

A hearty congratulations to the Aave community.

The AIP to deploy GHO  on the Ethereum Mainnet went live on the 10th, and voting lasted for 24 hours.

It’s great to see stablecoins that are truly decentralized and innovating

The GHO ecosystem will definitely mature and offer GHO savings challenges for our users.

~ETHx is live on Mainnet~

ETHx is lowering the entry barrier for all NOs, yield up to 5.7% APY till 10th August.

Few days after launch:

• ETHx TVL is up already to $12.8M

• 157 wallets staked

• 80 NOs

• 271 Validators

• $2.7M Node operator bond

The DeFI Saint Recap

~LRT (Liquid Re-staking Token) The next big thing~

~Projects on my watchlist in preparation for bulls~

Other Alpha

~Everything you need to know about EigenLayer~

~Different zk Proof system~

Thanks for reading and if you like it, do leave feedback and forward it to your Friends. There is love in Sharing and see you next time.

DeFI Saint

Founder, The Saints Creed.